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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2012
Fair Value Measurements  
Assets and liabilities measured at fair value on a recurring basis

 

 

 

 

 

 

 

 

 

Fair value measurements at reporting date using

 

 

Description

 

 

June 30,
2012

 

 

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

 

 

Significant
other
observable
inputs
(Level 2)

 

 

 

Significant
unobservable
inputs
(Level 3)

 

 

 

 

 

(Thousands)

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

 

$

467,587

 

 

 

$

1,688

 

 

 

$

335,352

 

 

 

$

130,547

 

 

Total assets

 

 

$

467,587

 

 

 

$

1,688

 

 

 

$

335,352

 

 

 

$

130,547

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

 

$

109,214

 

 

 

$

1,534

 

 

 

$

106,569

 

 

 

$

1,111

 

 

Total liabilities

 

 

$

109,214

 

 

 

$

1,534

 

 

 

$

106,569

 

 

 

$

1,111

 

 

 

 

 

 

 

 

 

 

Fair value measurements at reporting date using

 

 

Description

 

 

December 31,
2011

 

 

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

 

 

Significant
other
observable
inputs

(Level 2)

 

 

 

Significant
unobservable
inputs

(Level 3)

 

 

 

 

 

(Thousands)

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

 

$

512,161

 

 

 

$

3,612

 

 

 

$

365,238

 

 

 

$

143,311

 

 

Total assets

 

 

$

512,161

 

 

 

$

3,612

 

 

 

$

365,238

 

 

 

$

143,311

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

 

$

123,306

 

 

 

$

2,727

 

 

 

$

120,528

 

 

 

$

51

 

 

Total liabilities

 

 

$

123,306

 

 

 

$

2,727

 

 

 

$

120,528

 

 

 

$

51

 

 

Fair value measurements using significant unobservable inputs (Level 3)

 

 

Fair value measurements using significant unobservable inputs
(Level 3)

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative instruments,
at fair value, net
three months ended
June 30,

 

 

 

Derivative instruments,
at fair value, net
six months ended
June 30,

 

 

 

 

2012

 

2011

 

 

 

2012

 

2011

 

 

 

 

(Thousands)

 

Beginning of period

 

 

$

156,066

 

$

97,364

 

 

 

$

143,260

 

$

116,672

 

Total gains or losses:

 

 

 

 

 

 

 

 

 

 

 

 

Included in earnings

 

 

 

 

 

 

 

14

 

Included in other comprehensive income

 

 

(4,203

)

16,851

 

 

 

27,393

 

11,020

 

Purchases

 

 

(1,016

)

 

 

 

(1,016

)

 

Settlements

 

 

(21,411

)

(12,243

)

 

 

(40,201

)

(25,734

)

Transfers in and/or out of Level 3

 

 

 

 

 

 

 

 

End of period

 

 

$

129,436

 

$

101,972

 

 

 

$

129,436

 

$

101,972